TELUS Co. (T) Given Consensus Rating of “Buy” by Brokerages

TELUS Co. (TSE:T) (NYSE:TU) has been assigned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$51.00.

Several research firms have issued reports on T. Canaccord Genuity cut their target price on TELUS from C$49.00 to C$48.00 in a research note on Friday, May 11th. TD Securities lowered their price target on TELUS from C$54.00 to C$53.00 and set a “buy” rating for the company in a report on Friday, May 11th. CIBC downgraded TELUS from an “outperform” rating to a “neutral” rating in a report on Friday, May 11th. Scotiabank raised their price target on TELUS to C$52.00 and gave the stock an “outperform” rating in a report on Monday, May 7th. Finally, Morgan Stanley raised TELUS from an “equal weight” rating to an “overweight” rating in a report on Monday, April 30th.

Shares of TSE:T traded up C$0.17 on Tuesday, hitting C$46.50. 277,305 shares of the company’s stock were exchanged, compared to its average volume of 973,991. TELUS has a 12 month low of C$43.30 and a 12 month high of C$48.94.

TELUS (TSE:T) (NYSE:TU) last announced its quarterly earnings results on Thursday, May 10th. The company reported C$0.73 EPS for the quarter, missing the consensus estimate of C$0.74 by C($0.01). The firm had revenue of C$3.38 billion for the quarter, compared to analysts’ expectations of C$3.35 billion. TELUS had a net margin of 8.29% and a return on equity of 13.52%.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Friday, June 8th will be given a $0.525 dividend. The ex-dividend date is Thursday, June 7th. This is a boost from TELUS’s previous quarterly dividend of $0.51. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.52%.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.

Analyst Recommendations for TELUS (TSE:T)

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